Economic growth to stay below 1% by 2015, Patriotism and Progress Public Policy Foundation says
The Patriotism and Progress Public Policy Foundation, headed by former Prime Minister Gordon Bajnai, on Thursday published a risk assessment projecting that economic growth will not exceed 1% by 2015 and that the number of employed in the private sector could drop by 50,000 during the same period.
Former Finance Minister Péter Oszkó presented the findings of the study and added that the 50,000 decrease in employment could be balanced with fostered workers in the public sector, but that would draw funds from the budget. Oszkó, who is also the head of the foundation's supervisory council, said general government debt could get stuck at 80% by 2015.
Hungary requires a change in economic policy, he added. Regarding the ongoing negotiations with the IMF, Oszkó said "it would be hard not to call what the government is doing just stonewalling, because they announced their intent for an agreement eight months ago."
The former finance minister added that negotiations with the IMF can go as long "as markets believe there are serious talks that could end in an agreement."
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.